Philip Schneider

The Board reviewed and approved financial reports for the Cooperative and TriCo Development, accepted new membership applications, and reviewed safety data. Committee reports included an audit of March expenses. Organizational updates covered personnel changes at the state level and upcoming training center activities. The Board discussed economic development in executive session and received updates on the transition of fiber service providers. Key actions taken included the acceptance of the Board Compensation Report, a mid-year pay adjustment for line workers, and the reduction of the surplus generation credit for renewable energy. Additionally, the Board engaged in a discussion regarding irrigation rates, ultimately voting to table the motion for further consideration.

The Board of Trustees meeting covered various organizational and operational reports, including the presentation and acceptance of the Annual Consolidated Audit and Form 990 review, and updates on member applications, financial reports, and safety statistics. The board received reports on activities from several committees and organizations, including updates on Central and Statewide initiatives. Key actions included the approval of trustee attendance at the NRECA Legislative Conference, the appointment of a representative to the Broadband Cooperatives of South Carolina, and the authorization to continue evaluating a potential corporate membership in New Horizon Electric Cooperative. Furthermore, the board reviewed strategic goals, conducted an executive session regarding a personnel matter, and held a recess to conduct a related board meeting.

The 80th annual meeting of the membership featured a report from the nominating committee regarding the election of trustees, the presentation of the annual treasurer's report detailing financial performance, and an overview of the cooperative's strategic commitment to expand high-speed fiber broadband services to all members. The meeting concluded with a prize drawing for the cooperative's membership.

The board meeting included several key agenda items such as the review of financial and new member reports, and the presentation from New Horizon Electric Cooperative regarding potential membership. The board approved the Financial Policy, a Deferred Revenue Plan, and a loan agreement with the National Rural Utilities Cooperative Finance Corporation. Additionally, the board approved the M-REC Rider and authorized bad debt write-offs for 2025. Resolutions were passed to honor two retirees for their dedicated service, and the CEO provided updates on corporate strategic goals and organizational matters.

The meeting included the introduction of the Board of Trustees and the CEO, followed by the report of the Nominating Committee, which resulted in the election of three unopposed board members. The treasurer provided a financial report, and the CEO discussed the cooperative's operational growth during the pandemic, the progress of a fiber-optic construction project to provide high-speed internet to members, and a rate realignment strategy designed to provide more equitable billing.